Basic Attention Token (BAT)
The Basic Attention Token is based on the Ethereum blockchain. It’s a decentralized, transparent digital ad exchange that relies on two core parts: the Basic Attention Token (BAT) and the Brave Browser. Brave is a unique type of browser launched on May 31, 2017, earning 35 million USD within 30 seconds of the ICO launch. The open-source, privacy-focused browser blocks malvertisements and trackers while still letting publishers earn advertising revenue. The Brave browser uses a ledger system that anonymously captures user’s attention in a way that accurately rewards publishers.
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The Basic Attention Token, meanwhile, is a unit of exchange between publishers, advertisers, and users. The token is derived from – or denominated by – a user’s attention.Attention, as mentioned above, can be defined as “focused mental engagement”. In this case, users are focusing on an advertisement.
The Basic Attention Token ecosystem relies on the two parts mentioned above. Basically, the Brave browser knows where users spend their time, which means the Brave browser can be used to calculate and reward publishers with BATs. This leads to a transparent and efficient digital advertising market based on the blockchain.
Everyone benefits: publishers receive more revenue because middlemen and fraud are reduced. Users who opt in receive fewer ads, but better-targeted ads, that are less prone to malware. And advertisers get better information about their spending.
Basic Attention Network has a team of 12 core members and 4 advisors. The lead at BAT is Breanden Eich, the creator of the programming language, Javacript. The co-founder, Brian Bondy, also brings experience to the team as the former lead software developer of Khan Academy. The rest of the team is highly experienced as well, some with previous roles at companies like Yahoo, Mozilla and Microsoft.
Basic Attention Token is now in its 'Apollo" phase and will be so for the rest of 2018. During the 'Apollo' phase, BAT lloks to accomplish a list of things including:
- Real ad revenue that scales with user growth; further UGP grants & growth hacks.
- Donation flow fee revenue, smaller but scaled as far as possible via incentives to users who get BAT revenue from ads and want to give back to their pinned and top sites.
- Major work to move from Brave Ledger confirmation and revenue flows to entirely decentralized on Ethereum flows using a state channel with ZKP for anonymity.
- Evolved BAM options based on premium attention models — price discovery at high end.
- Aggregated, large-anonymity-set reports and forecasts on the Ethereum blockchain, with competitive demand (advertiser) and supply (publisher) dashboards for performance measurement, optimization and sales planning.
- BAT integration into other apps based on open source & specs for greater ad buying leverage and publisher onboarding